Pruksa vs Land and Houses: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Pruksa Holding Public Company Limited (PSH.BK)

Q3 202614 Aug – 6 Oct 2026

▲3▼1

Pruksa's profit rebound meets weak demand and flood risk

First-half profit more than doubled Pruksa's first-half 2026 net profit jumped 120% to 197 million baht, with revenue up 9% and gross margin at 29.5%. Condo transfers rose 66% and the hospital business grew. Lower debt and a small interim dividend show the core business is steadier, which supports the shares.
This is the clearest new evidence that Pruksa's earnings are recovering, a direct positive for the stock.
Sector still weak; floods add pressure A Q2 review showed Pruksa among property firms with big profit declines, and TRIS later named it moderately sensitive to Bangkok floods. Flooding can delay construction and transfers and slow sales, while low-rise demand was already down 16% in the first half.
It is the main counterweight: weak demand and flood disruption could hold back the recovery the profit jump suggests.
Analyst sees better-than-expected cost control KGI kept a Hold rating on Pruksa but said it did better than expected on cost control and its growing hospital business. That matters because it shows the profit improvement is not just one-off, even as the wider property market stays sluggish with low margins.
It explains why analysts are not negative on Pruksa despite the weak sector, supporting the share price.
Zero-payment campaign to lift year-end sales Pruksa launched a 'Final Deal' campaign across 89 projects, offering 0 baht down, 0% interest and no installments for up to two years, plus discounts up to 6 million baht. It aims to pull in buyers in the year-end stretch, which could boost transfers and cash flow.
It is a fresh, company-specific push to revive demand, a direct potential positive for sales and the stock.

September 202614 Aug – 6 Oct 2026

▲3▼1

Pruksa's profit rebound meets weak demand and flood risk

First-half profit more than doubled Pruksa's first-half 2026 net profit jumped 120% to 197 million baht, with revenue up 9% and gross margin at 29.5%. Condo transfers rose 66% and the hospital business grew. Lower debt and a small interim dividend show the core business is steadier, which supports the shares.
This is the clearest new evidence that Pruksa's earnings are recovering, a direct positive for the stock.
Sector still weak; floods add pressure A Q2 review showed Pruksa among property firms with big profit declines, and TRIS later named it moderately sensitive to Bangkok floods. Flooding can delay construction and transfers and slow sales, while low-rise demand was already down 16% in the first half.
It is the main counterweight: weak demand and flood disruption could hold back the recovery the profit jump suggests.
Analyst sees better-than-expected cost control KGI kept a Hold rating on Pruksa but said it did better than expected on cost control and its growing hospital business. That matters because it shows the profit improvement is not just one-off, even as the wider property market stays sluggish with low margins.
It explains why analysts are not negative on Pruksa despite the weak sector, supporting the share price.
Zero-payment campaign to lift year-end sales Pruksa launched a 'Final Deal' campaign across 89 projects, offering 0 baht down, 0% interest and no installments for up to two years, plus discounts up to 6 million baht. It aims to pull in buyers in the year-end stretch, which could boost transfers and cash flow.
It is a fresh, company-specific push to revive demand, a direct potential positive for sales and the stock.

Latest14 Aug – 6 Oct 2026

▲3▼1

Pruksa's profit rebound meets weak demand and flood risk

First-half profit more than doubled Pruksa's first-half 2026 net profit jumped 120% to 197 million baht, with revenue up 9% and gross margin at 29.5%. Condo transfers rose 66% and the hospital business grew. Lower debt and a small interim dividend show the core business is steadier, which supports the shares.
This is the clearest new evidence that Pruksa's earnings are recovering, a direct positive for the stock.
Sector still weak; floods add pressure A Q2 review showed Pruksa among property firms with big profit declines, and TRIS later named it moderately sensitive to Bangkok floods. Flooding can delay construction and transfers and slow sales, while low-rise demand was already down 16% in the first half.
It is the main counterweight: weak demand and flood disruption could hold back the recovery the profit jump suggests.
Analyst sees better-than-expected cost control KGI kept a Hold rating on Pruksa but said it did better than expected on cost control and its growing hospital business. That matters because it shows the profit improvement is not just one-off, even as the wider property market stays sluggish with low margins.
It explains why analysts are not negative on Pruksa despite the weak sector, supporting the share price.
Zero-payment campaign to lift year-end sales Pruksa launched a 'Final Deal' campaign across 89 projects, offering 0 baht down, 0% interest and no installments for up to two years, plus discounts up to 6 million baht. It aims to pull in buyers in the year-end stretch, which could boost transfers and cash flow.
It is a fresh, company-specific push to revive demand, a direct potential positive for sales and the stock.

Land and Houses Public Company Limited (LH.BK)

Q3 202623 Jul – 7 Oct 2026

▲2▼2

LH's weak core housing drags profit to 20-year low, but asset sales and new CEO offer recovery

Q2 profit collapses on weak housing demand LH's Q2 2026 net profit fell 61.8% to 525.67 million baht, the lowest in almost 20 years, as sales revenue dropped 41.1% on weak housing demand and high household debt. This weak core business is the main reason the share price has fallen to around 3.70 baht from 9.90 baht in 2022.
It is the single biggest negative force on LH's price and explains why the stock is near multi-year lows.
New CEO and asset sales point to recovery LH appointed Archawin Assavabhokhin as CEO from January 2027, which analysts see as positive for strategy and management. Recovery is expected from Q4 2026, driven by transfers of the One Bangkok Chao Phraya condominium (57% sold), the Grand Centre Point hotel opening, and asset sales in Thailand and the US.
It is the main positive catalyst that could reverse the earnings slump and support a share price re-rating.
TRIS affirms A rating and new 6bn baht bonds TRIS Rating affirmed LH at A with a Stable outlook and rated its new 6 billion baht bond issue at A. The proceeds will repay debt and fund working capital. TRIS expects revenue to recover to 23-26 billion baht per year and debt-to-equity to fall to 50-55%, easing financial risk.
It shows LH can still raise money cheaply and reduce debt, a key support for the share price while earnings are weak.
Index removals and earnings downgrades weigh on the stock LH is expected to be removed from the SET50 index with 99.99% confidence and from the FTSE Mid Cap group, which can force index-tracking funds to sell. Analysts also cut LH's September earnings estimate by 1%, reflecting the property sector's divergence from energy-led market gains.
These events create selling pressure and weaker sentiment, directly pushing the share price down in the near term.

August 202623 Jul – 7 Oct 2026

▲2▼2

LH's weak core housing drags profit to 20-year low, but asset sales and new CEO offer recovery

Q2 profit collapses on weak housing demand LH's Q2 2026 net profit fell 61.8% to 525.67 million baht, the lowest in almost 20 years, as sales revenue dropped 41.1% on weak housing demand and high household debt. This weak core business is the main reason the share price has fallen to around 3.70 baht from 9.90 baht in 2022.
It is the single biggest negative force on LH's price and explains why the stock is near multi-year lows.
New CEO and asset sales point to recovery LH appointed Archawin Assavabhokhin as CEO from January 2027, which analysts see as positive for strategy and management. Recovery is expected from Q4 2026, driven by transfers of the One Bangkok Chao Phraya condominium (57% sold), the Grand Centre Point hotel opening, and asset sales in Thailand and the US.
It is the main positive catalyst that could reverse the earnings slump and support a share price re-rating.
TRIS affirms A rating and new 6bn baht bonds TRIS Rating affirmed LH at A with a Stable outlook and rated its new 6 billion baht bond issue at A. The proceeds will repay debt and fund working capital. TRIS expects revenue to recover to 23-26 billion baht per year and debt-to-equity to fall to 50-55%, easing financial risk.
It shows LH can still raise money cheaply and reduce debt, a key support for the share price while earnings are weak.
Index removals and earnings downgrades weigh on the stock LH is expected to be removed from the SET50 index with 99.99% confidence and from the FTSE Mid Cap group, which can force index-tracking funds to sell. Analysts also cut LH's September earnings estimate by 1%, reflecting the property sector's divergence from energy-led market gains.
These events create selling pressure and weaker sentiment, directly pushing the share price down in the near term.

Latest23 Jul – 7 Oct 2026

▲2▼2

LH's weak core housing drags profit to 20-year low, but asset sales and new CEO offer recovery

Q2 profit collapses on weak housing demand LH's Q2 2026 net profit fell 61.8% to 525.67 million baht, the lowest in almost 20 years, as sales revenue dropped 41.1% on weak housing demand and high household debt. This weak core business is the main reason the share price has fallen to around 3.70 baht from 9.90 baht in 2022.
It is the single biggest negative force on LH's price and explains why the stock is near multi-year lows.
New CEO and asset sales point to recovery LH appointed Archawin Assavabhokhin as CEO from January 2027, which analysts see as positive for strategy and management. Recovery is expected from Q4 2026, driven by transfers of the One Bangkok Chao Phraya condominium (57% sold), the Grand Centre Point hotel opening, and asset sales in Thailand and the US.
It is the main positive catalyst that could reverse the earnings slump and support a share price re-rating.
TRIS affirms A rating and new 6bn baht bonds TRIS Rating affirmed LH at A with a Stable outlook and rated its new 6 billion baht bond issue at A. The proceeds will repay debt and fund working capital. TRIS expects revenue to recover to 23-26 billion baht per year and debt-to-equity to fall to 50-55%, easing financial risk.
It shows LH can still raise money cheaply and reduce debt, a key support for the share price while earnings are weak.
Index removals and earnings downgrades weigh on the stock LH is expected to be removed from the SET50 index with 99.99% confidence and from the FTSE Mid Cap group, which can force index-tracking funds to sell. Analysts also cut LH's September earnings estimate by 1%, reflecting the property sector's divergence from energy-led market gains.
These events create selling pressure and weaker sentiment, directly pushing the share price down in the near term.